Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Customs - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

SEEPZ - allegation of Clandestine clearance of duty free goods, ...


Court Upholds Rs. 10 Lakhs Penalty for Illegally Selling Duty-Free Diamonds and Gold Domestically Instead of Exporting.

November 13, 2015

Case Laws     Customs     AT

SEEPZ - allegation of Clandestine clearance of duty free goods, a large quantity of diamonds, gold etc. in the domestic market instead of exporting - Keeping in view the over all facts, the penalty of ₹ 10 lakhs cannot be considered on the higher side - AT

View Source

 


 

You may also like:

  1. Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values...

  2. Appellant failed to submit required documents within stipulated time for provisional duty assessment, contravening Customs (Provisional Duty Assessment) Regulations,...

  3. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

  4. Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata....

  5. Levy of penalty- Fraudulent issuance of GDRs by the Company - the imposition of penalty upon the appellant after 12 years from date of resigning is excessive. In a large...

  6. Imported material diverted to unit other than permitted unit, resulting in contravention of import-export policy provisions. Goods held liable for confiscation u/s 111...

  7. The High Court held that the impugned notices issued for Assessment Years 2009-10 to 2014-15 u/s 153C of the Income Tax Act were valid and not time-barred. The court...

  8. ICAI's Suggestions for Review of Income Tax Act, 1961: Tax Deducted at Source (TDS) prosecution proceedings are appropriate only where deductors deliberately do not...

  9. The Income Tax Appellate Tribunal allowed the assessee's appeal against the reopening of assessment u/s 148A of the Income Tax Act. The Assessing Officer had alleged...

  10. Clandestine removal of goods denied CENVAT credit. Liability for duty, interest, and penalty from FY 2007-08 to 2011-12 assessed. Differential duty demand of Rs....

  11. Appellant imported fermented and dried processed Sumatra cocoa beans which failed to conform to IS 8865:2003 standards as per FSSAI and BIS testing. Adjudicating...

  12. The appellate tribunal examined the penalty imposed on the company and individual for contravention of Section 6(3)(a) of FEMA and Regulations 5, 6, and 13 of the...

  13. Customs broker's license suspension case involving violations of Regulations 10(d) and 10(e) of Customs Brokers Licensing Regulations (CBLR), 2018. Gross mis-declaration...

  14. Confiscation of smuggled gold bars/biscuits u/ss 111(b), 111(d), and 111(f) of the Customs Act, 1962. The appellants failed to establish the licit procurement of the...

  15. Addition of fixed deposits and interest thereon in wife's name was deleted as the Revenue could not controvert that the deposits belonged to the assessee's wife from her...

 

Quick Updates:Latest Updates